Nicollet Investment Management Inc. Sells 369 Shares of Sysco Co. (NYSE:SYY)

Nicollet Investment Management Inc. trimmed its stake in shares of Sysco Co. (NYSE:SYY) by 1.2% in the second quarter, HoldingsChannel reports. The firm owned 30,781 shares of the company’s stock after selling 369 shares during the quarter. Nicollet Investment Management Inc.’s holdings in Sysco were worth $2,197,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. ORG Partners LLC grew its stake in Sysco by 3,159.0% in the 2nd quarter. ORG Partners LLC now owns 7,072 shares of the company’s stock valued at $495,000 after buying an additional 6,855 shares during the last quarter. Bridgefront Capital LLC bought a new stake in shares of Sysco during the fourth quarter worth approximately $841,000. Nebula Research & Development LLC acquired a new position in shares of Sysco in the fourth quarter valued at approximately $916,000. Artisan Partners Limited Partnership increased its stake in shares of Sysco by 11.7% during the fourth quarter. Artisan Partners Limited Partnership now owns 597,216 shares of the company’s stock worth $43,674,000 after purchasing an additional 62,556 shares during the period. Finally, Mizuho Markets Americas LLC lifted its holdings in Sysco by 102.1% during the 1st quarter. Mizuho Markets Americas LLC now owns 139,875 shares of the company’s stock worth $11,355,000 after purchasing an additional 70,660 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Stock Up 0.1 %

NYSE SYY opened at $78.50 on Wednesday. Sysco Co. has a fifty-two week low of $62.24 and a fifty-two week high of $82.89. The business has a fifty day moving average price of $74.94 and a two-hundred day moving average price of $75.76. The company has a debt-to-equity ratio of 6.19, a current ratio of 1.20 and a quick ratio of 0.69. The stock has a market capitalization of $38.58 billion, a PE ratio of 19.15, a PEG ratio of 2.05 and a beta of 1.20.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, July 30th. The company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.01. The business had revenue of $20.56 billion for the quarter, compared to analyst estimates of $20.51 billion. Sysco had a return on equity of 102.09% and a net margin of 2.48%. Sysco’s revenue was up 4.2% compared to the same quarter last year. During the same period last year, the firm posted $1.34 earnings per share. Equities analysts expect that Sysco Co. will post 4.6 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date of this dividend is Friday, October 4th. Sysco’s dividend payout ratio is 49.76%.

Analyst Ratings Changes

A number of research analysts have commented on SYY shares. Guggenheim raised Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price objective on the stock in a report on Tuesday, May 28th. Truist Financial lowered their price target on shares of Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a research report on Monday, June 24th. StockNews.com raised shares of Sysco from a “buy” rating to a “strong-buy” rating in a report on Monday, September 2nd. JPMorgan Chase & Co. lowered their target price on shares of Sysco from $87.00 to $85.00 and set an “overweight” rating on the stock in a report on Thursday, May 23rd. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Sysco from $90.00 to $86.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.27.

About Sysco

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally. It operates through U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other segments.